TGF Total Expense Ratio, page-11

I've made heaps trading TGF short-term and will continue to trade it. But it is not an investment.

I can absolutely guarantee you that the Total Expense Ratio of a fund is the single greatest determinant of whether it can outperform its most relevant benchmark or closest passive, low-cost ETF.

The vast majority of funds with TERs over 2% fail to outperform once the period gets long enough (>5yrs). Funds with TERs over 4% fall behind even quicker and can't catch up. TGF's TER of circa 11.87% reflects the heads I win, tails you lose nature of the performance fee scam they are operating. They are guaranteed to underperform (no possible chance of being an exception)

This doesn't mean their commodity reports aren't worth reading, or that their portfolio companies aren't worth buying directly. I'm talking about the structure of the fund. It is guaranteed to buy yachts only for the fund manager not long term investors in TGF.

If there was a diversified, low-cost commodities ETF on the ASX TGF would sink into obscurity. However, platforms like Stake allow free trading of US ETFs and there are sufficient commodity ETFs listed there for medium/long term investors: https://etfdb.com/etfdb-category/commodities/